Digital Asset CEO Blythe Masters Steps Down

Omar Faridi

Blythe Masters, a former JPMorgan Chase global commodities head and CEO of Digital Asset, a cryptoasset technology development firm, has decided to leave her current position at Digital Asset.

On Tuesday (December 18th) Digital Asset, a New York-based developer of “encrypted straight through processing tools” using distributed ledger technology (DLT), announced that Masters would be resigning from her role as CEO at the firm due to personal reasons. Digital Asset’s announcement further noted that AG Gangadhar, who joined the company’s board of directors earlier this year, would be serving as Digital Asset’s acting CEO.

Chairman Of Board Of Directors At Hyperledger Project

Masters’ resignation will likely be considered a setback for Digital Asset as she is well-known for her valuable contributions to the blockchain and crypto industry. She is presently the chairman of the board of directors at Hyperledger Project, a part of the larger Linux Foundation collaborative effort “created to advance blockchain technology.”

Masters is also a member of the group international advisory board and senior advisor on blockchain to the president of Banco Santander, one of the world’s largest financial institutions.

In March 2015, Masters joined Digital Asset and during her time with the firm, she played a key role in helping the blockchain startup establish strategic partnerships with banks throughout the world. She also worked to develop blockchain-based platforms for Australia’s Stock Exchange and large American clearinghouses.

Will Remain On Company's Board Of Directors

In July, Digital Asset announced its partnership with Google which involves implementing blockchain-enabled platforms for cloud computing. At present, it’s unclear how far these projects are in terms of their ongoing development. When questioned about why she has resigned, Masters said she was planning to spend more time with her family. However, the experienced financial professional added that she would continue to serve as an advisor and board member at Digital Asset.

In an official statement on her decision to step down as CEO, Masters remarked:

Digital Asset has evolved from an ambitious idea to a truly global software engineering firm. We are fortunate to have a deep bench of accomplished executives on the management team and Board, including AG, who have the requisite experience to take the company to the next level.

She added:

Having come to know and trust AG as an advisor and Board member, I am convinced that he brings what’s needed to guide the company through its next phase.

Crypto-Backed Virtual World Decentraland Goes Live

  • Cryptocurrency-backed virtual world Decentraland has made its official launch.
  • Users have traded more than $1 million in virtual assets over the last ten days.

The cryptocurrency-backed virtual world Decentraland has made its official launch, giving users the ability to spend real money on digital property.

Decentralaland, which raised more than $20 million during its initial coin offering (ICO) held in 2017, has officially launched its virtual reality world living on the Ethereum blockchain.

Users have been rushing to spend money on virtual plots of land they hope will appreciate like real-world real-estate. As previously reported, crypto gamers spent more than $600,000 last week to purchase digital plots of land in the leadup to Decentraland’s official launch. 

Long-time holders of Decentraland’s native coin, MANA, are also cashing in on the craze, with the asset more than doubling since the beginning of 2020. According to data collected by NonFungible, more than $1 million in assets have been traded via Decentraland over the last ten days, making the project’s virtual world the most active entity on Ethereum’s blockchain. 

Ari Meilich, the game’s project lead, told Bloomberg in a phone interview,  

The users are in control of the digital assets, which is something that hasn’t happened before.

He continued, 

We think that over time players will gravitate toward games where they are more in control.

Decentraland is already trading more than 10 times the virtual assets as CryptoKitties, which was previously one of the most popular Ethereum network applications. 

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